Fuel

Gasoline Falls to $2.35 Per Gallon

June 20, 2016
• by Staff

Photo via Wikimedia.

The national average price of a gallon of regular unleaded gasoline fell 4.6 cents to $2.353 for the week ending June 20, according to federal data.

The price of gasoline is now 45.9 cents lower than it was a year ago. For the week, it fell in eight of the nine categories tracked by the U.S. Energy Information Administration. The average price fell most sharply in the Midwest, where it shaved 9.6 cents from last week's price to $2.37. It increased slightly in the Rocky Mountain region, rising eight-tenths of a cent to $2.33.

The national average according to AAA reached $2.332, and fuel prices have fallen for nine consecutive days.

"Crude oil remains relatively less expensive than recent years which is contributing to direct savings at the pump," according to AAA's release. "Drivers are saving a nickel per gallon on the week, but are paying five cents per gallon more on the month."

Meanwhile, the average price of diesel fell five-tenths of a cent to $2.426. Diesel is now 43.3 cents lower than it was a year ago.

Fuel

The national price of gasoline has fallen to $2.37 per gallon, which is the lowest December level on record since 2016 and continues a price decline that began in early October. Gasoline prices have tumbled 54 cents from Oct. 9.

The average national price for regular unleaded fell 4 cents to $2.42 to reach a new low for 2018, as gasoline prices continued to follow oil prices to lower price levels for the week ending Dec. 10, according to AAA.

Voters in Missouri, Utah, and Washington rejected state ballot measures on Tuesday that would have added new taxes on fuel or energy use by fleet vehicles, while California voters elected to keep increased fuel taxes in place to fund the state's infrastructure.

The national average gasoline price has fallen to a six-month low at $2.76 for a gallon of unleaded fuel on the same day the U.S. reimposed sanctions on Iran, which haven't driven prices high as the oil market has remained steady.

The national average gasoline price fell 4 cents to $2.85 per gallon for the week ending Oct. 22, as the price has given way following several weeks of lower demand. The price is where it was a month ago and 39 cents higher than a year ago.